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Oct 10, 2012 4:00pm EDT
the one by the federal government, but one stress test nonetheless. among other findings here, the failing banks would have to raise an additional $25 billion in capital to achieve a passing grade. >> joining us now with exclusive details is matthew anderson. he's part of the company that conducted the study. how do you come up with this? what methodology did you use? >> i'm glad you outlined that our stress test is just that, it's our application of an economic scenario, a downside economic scenario to bank earnings and bank capital. so what we did is we took the sort of variables that the federal reserve was forecasting in their c-card stress testing of the largest banks and applied that same sort of scenario to the entire universe of banks. >> are you tougher than the feds? >> we're probably tougher in some areas. we don't have all the data at our fingertips that they have, so they have a bit of an information edge. but i think we're pretty harsh. >> now, the banks that you identified, are they small banks, are they banks that everybody knows, are they any of the big banks that
Oct 12, 2012 4:00pm EDT
that we do have partnerships between industry and government. we are doing a great deal of collaborative work together. what we really need to do is insent vise greater investment. right now all the incentives are on the side of the attackers. >> what other incentive do you need than to protect yourself from a cyber attack? >> you have to protect yourself not just from any cyber attack. we're doing a great deal on that. private sector investment in protecting themself has doubled over the past five years to $80 billion a year. the department of homeland security is $59 billion in comparison. what we're talking about is defending them against nation state attacks. individual companies are never going to be in a place they can all by themselves defend against a nation state attack. so for that, we need an additional sort of collaboration such as is indicated in the bipartisan bill that was passed through the house of representatives that would have created greater liability protections that would have allowed private industry to share information with the government much more
Oct 8, 2012 4:00pm EDT
and what the real role is of the chinese government in terms of potential control of this company. >> no, those are also fair points. there is no role of the chinese government in the company. the committee knows full and very well that when they visited our facilities, that they actually had access to the entire list of all 65,000 of our employee shareholders. look, this industry -- the committee is focused on cyber security concerns. those are very legitimate concerns. but, the fact of the matter is, it's a global industry. hauwei, cisco, eriksson, nokia se seimens operating on a common stage with overlapping -- there are cyber concerns but they are universal. anything short of universal solutions is nothing but political gamesmanship. >> i've done a lot of reporting on it. it goes back to the chinese, broadly speaking, to spy, usually using the internet on u.s. corporations and to steal their secrets wherever they may be and whatever way the chinese can. many say about hauwei, in fact, it came from virtually nothing as a result of today because of stolen intellectual property.
Oct 9, 2012 4:00pm EDT
here says it's time to get the government out of the housing market. that's all ahead on the "closing bell." if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> all right. we got more situations developing. yum brands out with earnings. to jane wells. she's got the latest on yum brands. over to you. >> yeah, maria. you had it right going into the break. they did beat the street on the bottom line, coming in at 99 cents, excludeing special items. that's up 19% from a year ago. the top line came in a little light. the street was looking for $3.65 billion. the real story is what's happening in china. they reported an operating loss in china last quarter. this time, as promised, they have returned to double-digit profit growth with the china system sales increasing 22%. same store sales incr
Search Results 0 to 3 of about 4